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Estonia gets its sixth unicorn: Zego

As Invest Estonia already predicted in December 2020, Estonia’s next unicorn will be announced in 2021. Estonia, the world leader in numbers of unicorns per capita, got its sixth unicorn Zego - the tech-enabled commercial motor insurer raised $150M at $1.1B valuation.

According to TechCrunch, Zego will use the funding to rapidly expand across Europe and beyond.

Estonian Sten Saar is one of the three founders of Zego, writes Estonian business daily Äripäev. One of Zego’s investors is a  Estonian Taavet Hinrikus, serial unicorn builder and founder of Wise (former TransferWise).

Estonia, the unicorn factory

Estonia is the world leader in unicorns per capita. Despite a population of 1.3 million people, the country has been the birthplace of six unicorns so far: Skype in 2005, Playtech in 2007, TransferWise in 2015, Bolt in 2018, Pipedrive in 2020 and Zego in 2021. That’s 4.6 unicorns per capita. And the time lag between the creation of each following unicorn is constantly decreasing.

Want to invest in a startup that could be the next unicorn? Just step inside Estonia’s unicorn factory and find your perfect startup match.

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